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CNBC
Oct 3, 2012 4:00pm EDT
is we've got a wonderful energy practice. we're going a lot of things. our mantra is we want to find our clients yield, growth, and inflation hedging. we're doing that across our real assets. energy, infrastructure, real estate, and that's something we're very well prepared to do and we've been able to partner with our clients and put a fair amount of capital in that space. i think that will continue to be a big area for the firm. >> what about technology? you know, larry ellison yesterday talking about growth from the cloud. that's obviously one of the themes within tech. what where are you seeing nunt tech? >> technology in the u.s. is 15% of our market cap. it's 3% in europe. it's a core competency in the u.s. what i think is happening right now is remember in 1998 the world turned down, but it was asia that was in trouble. the central banks put liquidity in and technology did well, particularly growth stocks. my view right now is instead of asia being in trouble, it's europe, but people are going to migrate towards some of the good growth stocks. you've seen that in names, you know,
CNBC
Oct 3, 2012 8:00pm EDT
a spending cut plan. he has an energy plan. he's got to make it clear. he's got to explain to people the connection between his plans and the economic recovery that we have not yet had. that's a tall order for romney. and he's going to have to fight hard for it while the, of course is attacking him. >> you said earlier i was watching kudlow and company, you said the first impression is important. he's got to swing right away. you think he'll do that? >> that's my hunch. i've seen this before. aggressive. he's got to put this sort of line in the sand. here's what i believe. and here's what he believes. and there's a big choice in this election. he is the guy who wants redistribution. i'm the guy who wants growth. he's the guy who wants government centered economy. i'm the guy for free enterprise. he's got to say that. but it's doubly hard because he's got to put meat on the bones of his tax and spend policy. to this day, people are not quite sure what mitt romney's policies are. the president doesn't have policies. romney does, but we don't understand them. >> a debate is never a good
CNBC
Oct 1, 2012 4:00pm EDT
bought some stocks in are the energy area and the industrials area recently. >> were you going to just jump in? sorry about that. >> yeah, i was going to ask -- peter was talking about looking for a pullback. i think a lot of people are looking for the pullback. that's the tough part. if everyone is looking for the pullback, it may not come or when we want it. it could be put off for quite a ways. >> that's a good point. what about that? you don't want to fight the fed, right? >> yeah, i guess not, but i think the market is kind of at least at a stalemate with the fed here. if you look back to when qe 3 was announced, we're just about even, maybe a little bit higher. i think that, to me, is a big warning sign that, you know, how long is it going to be? what point does the market become qe resistant? we're testing that thesis right now. i'm looking at some of the other factors. i'm looking at insider selling right now which is about 11 times higher than insider buying during september. so somebody out there is getting scared. i think that's a lot of the reasons we talk about often. fina
CNBC
Oct 4, 2012 4:00pm EDT
want to get america and north america energy independent so we can create those jobs. >> if you're bullish on coal, you're going to like this. take a look at how we performed today in the sector. arch coal up almost 8%. alpha natural up almost 7%. utility stocks also higher. wells fargo saying this is a sector that could do well under a romney administration. we have con ed up about 1%. on the flip side, hospital stocks didn't do so well. a romney win doesn't bode as well for obamacare, and hence big hospital stocks fell. you can see here one of the biggest losers in the session. it was a good start for mitt romney, but it is still early. there are two more presidential and one vice presidential debate to go as the campaign heads into the final month before the election. maria, back to you. >> all right, court. thanks so much. so what the rally today really in response to that positive showing by governor romney, or is there something else at work here? joining us right now to talk about it. good to see you all. thanks so much for joining us. michael, what do you think was behin
CNBC
Oct 5, 2012 12:00pm EDT
advantage of all our energy resources, our oil, coal, gas, our nuclear, our renewables. and i know you care a lot more about coal than the other ones i mention sod let me remind you that when the president was running for office, he said that if you built a new coal fire plant why you go bankrupt. and the head of the epa has also said that the regulations on burning coal are now so stringent it's virtually impossible to build a new coal fire plant. well i don't believe in putting our coal under the ground forever. i believe we should take advantage of it, put american workers back to work and use a resource that's abundant, cheap and can be burned in a clean way. and by the way i also believe in oil and gas. i believe we should develop our resources. i believe within eight years america, north america rather should be energy independent and that want requires all those source of energy. and that will keep the price at the pump moderated. means good jobs for americans. it's been calculated if we're serious about energy, really take advantage of the energy resources we have, that you're going
CNBC
Oct 5, 2012 4:00am EDT
. the hang seng gained half a percent today. energy rallied. global clothing supplier is in talks to buy new york based synergy world flight. the nikkei edged up to a week high, but lost 7% on on the week. down beat earnings reports, plunging sales in china due to the territorial backlash. the boj decided to keep its rates as expected. pc makers extending a losing streak, but media tech gained 2% on strong earnings growth outlook. south korea kospi also closed marginally in the green. samsung electronics had a volatile session after reporting record q3 operating profit, ending higher by 0.2%, but l.g. display tumbled 4.5% after a downgrade on profitability concerns. australian miners and banks leapt support to the sx 200. sensex bucking the upward trend, now lower by 0. 7%. back to you, ross. >> okay, thanks for that. so china shares getting back to action on monday. that's after a holiday week. investors will get a chance to react to the unspiraling pmi data for september. what can we expect -- the chinese market's been a big underperformer this year. can we expect when we get back to actio
CNBC
Oct 4, 2012 9:00am EDT
and energy a little later on. >>> first, as you probably know, a grim outlook for hp sent shares down 13% yesterday. ceo meg whitman expects revenues and profits for the tech giant to decline in the near term saying unprecedented executive turnovers led to inconsistent strategic choices. our david faber is with meg whitman. david, good morning to you. >> reporter: thanks very much, carl. of course, well, you can certainly give them credit perhaps for transparency, hewle hewle hewlett-packard yesterday laying out a plan tofor remaking the company for next year they're calling a fix and rebuild year. as you said, the stock took a hit on that news. we are joined by the ceo of hewlett-packard, meg whitman joins us from headquarters in palo alto. as always, very much appreciate your willingness to come on in what are seemingly very difficult times. you and i sat down a little more than a year ago when you first joined the company. and i guess my first question would simply be what took you so long? a year is quite a while in the history of a company, certainly one that seems to be in some dis
CNBC
Oct 8, 2012 3:00pm EDT
% of the stocks in the s&p 500 hit all-time highs on friday. and a handful came from the energy and utility sectors. jackie joins us with those details. >> good afternoon. before we get to the names, i want to take a look at broader performance in energy and utilities because the story we see there is a tale of two sectors, if you pardon the pun. s&p 500 energy sector, up roughly 11% in the last three months, outperforming the broader index and second best performing sector overall. the utilities have been flat and are the worst performer for the time period. having said that, one of the standout performers that has bucked the trend in the utility sector has been one oak, investors liking this utility company because of the 33 cent dividend and projecting a dividend increase next year and a company with potential for growth. energy, dow components, chevron and exxonmobil have had stellar performance as of late. chevron hittingen all-time high in september. finally, cabot oil and gas, trading at all-time highs not seen since ipo in 1990. these are some names to watch. you know what, analysts
CNBC
Oct 1, 2012 6:00pm EDT
.cnbc.com. one is for a clean, wedomestic energy future that puts us in control. our abundant natural gas is already saving us money, producing cleaner electricity, putting us to work here in america and supporting wind and solar. though all energy development comes with some risk, we're committed to safely and responsibly producing natural gas. it's not a dream. america's natural gas... putting us in control of our energy future, now. we know you. we know you have to rise early... and work late, with not enough sleep in between. how you sometimes need to get over to that exit, like, right now. and how things aren't... just about you anymore. introducing the all-new, smart-sensing... honda accord. it starts with you. >>> here's one area where playing football and "mad money" have a lot in common. we call it the check down. that's when the quarterback considers whom he should pass the ball to. checking down one receiver after another, find out who's open. who can score. and then hits him while he's uncovered. the best quarterbacks have a list in their heads about who to go to first, second
CNBC
Oct 4, 2012 1:00pm EDT
the energy sector right now? president of oil outlooks and opinions is bullish on crude and carl joins me now on the floor of the nyse. michelle made some pretty compelling arguments about why oil should go lower. you're still bullish though. why? >> we're nowhere near the numbers we saw in '06 and '08. if we can get qe3 going, that demand is going to meet what supply we have and probably outpace at some point. >> a lot of people down here feel as though qe3 may do a little bit to help the economy, but that with every quantitative easing we've seen less impact in the economy. it doesn't sound like you quite buy that. >> i mean historically last time we had double digit unemployment it took five years before we really came into it. we're going into the fifth year. qe3 will play right into what happens next. >> how high do you think crude might move if indeed we see a recovery with more traction? >> first off, say next year, $104 to $106 to wti average. how do you get involved? i say something that's going to be international. exon or oil refineries are definitely things you should get into. ni
CNBC
Oct 8, 2012 9:00am EDT
're in the expansion camp, you want financials, energy, materials. in the contraction camp, you're generally on the defensive side. the trade everybody's been talking about, jim you alluded to it, it's to play the u.s. market, play autos, housing, consumer staples. i call it the home depot trade. it's been a monster. that's the classic trade to play in these circumstances. i have a couple of problems with this. number one, cyclicals have outperformed defensive names in the last couple of months since this has been a very popular notion out there. since june overall, earnings and stocks have been somewhat negatively correlated. we've seen earnings come down and yet the stock markets continue to move up. in the last few weeks, really hold right near its highs. you can argue and there is certainly truth to that that that's because we have q.e. 3, because we've got the ecb in the market. but i look at the facts of where the market is, not necessarily what's been moving it every minute. that's what i see right now. today, the european bailout fund is coming into effect. if spain keeps going along
CNBC
Oct 2, 2012 5:00pm EDT
dollar is most comparable to wal-mart in terms of competitiveness. >>> coming up next from an energy name left in the cold to a home builder piling on the gains. if you agree with bill gross that uncle sam has a habit what is the trade? [ male announcer ] for the saver, and a big first step. for the spender who needs a little help saving. for adding "& sons." for the dreamer, planning an early escape. for the mother of the bride. for whoever you are, for whatever you're trying to achieve, pnc has technology, guidance, and over 150 years of experience to help you get there. ♪ >>> breaking down u.s. debt. said the u.s. is an addict who pleasures itself with budgetary crystal meth. if we don't address the issue bonds will be burned to a crisp and stocks singed. should investors seek safety in gold? let's ask dennis. >> good to be here in sunny virginia beach this afternoon. >> rainy times square here. in terms of gold you have been a fan of gold for a while. do you think bill gross has the gone off the deep end or a little extreme in his metaphor? >> i think that was the most painful serie
CNBC
Oct 8, 2012 7:00pm EDT
to this earnings season, we need to know two things. we need to know one thing, and that's the importance of energy earnings in this particular season. energy earnings are down 20%, 23% or so. that's a large portion of the decline we see. >> because all prices fell so much. >> that's correct. >> if you take energy out, do you get positive earnings? if you remove apple from the s&p 500, things aren't that good. i'm not an eternal optimist. i think this is all perfectly fair. >> is the economy getting worse? is it getting worse? >> yes, yes, yes. it's getting worse. absolutely getting worse. >> 7.8%. >> look, worldwide, larry, the velocity of money is dead. >> what does that mean in. >> there's no turnover. this unemployment number that the optimists hailed at great at 7.8% lifted by part-time workers. >> no one said it's great. this is important to both of you since you are both in this camp with respect to the federal reserve. you can make the case -- i don't want to get too wonky and bore our viewers, but you can make the case that the federal reserve by doing what it's doing is simply offsetting
CNBC
Oct 4, 2012 12:00pm EDT
big drop, oil bouncing back. we're going to drill, baby drill, on the energy sector and find out why one analyst is still bullish and where he put his money to work, and yours, too. >>> and what's with all the hating on big bird? keep on plucking that chicken, says romney. join us at the top of the hour. we'll be right back. one is for a clean, wedomestic energy future that puts us in control. our abundant natural gas is already saving us money, producing cleaner electricity, putting us to work here in america and supporting wind and solar. though all energy development comes with some risk, we're committed to safely and responsibly producing natural gas. it's not a dream. america's natural gas... putting us in control of our energy future, now. >>> welcome back. what would a romney victory mean for the dollar? let's bring in andy bush, live from chicago. the dollar's weaker today, the stock market is higher. how would that play out regardless of what happens in the election? >> right. well, i think it's really important to look at the differences between the two candidates, and clea
CNBC
Oct 8, 2012 5:00pm EDT
is for a clean, wedomestic energy future that puts us in control. our abundant natural gas is already saving us money, producing cleaner electricity, putting us to work here in america and supporting wind and solar. though all energy development comes with some risk, we're committed to safely and responsibly producing natural gas. it's not a dream. america's natural gas... putting us in control of our energy future, now. >>> a lot of techs have done well. google and amazon trading at highs. ibm doing well. apple was over $700 three weeks ago. as i pick through the stocks, particularly good run, a couple of theme also jump out at me, mobile and big data, the companies that managed to tap into one or both of those part of their growth story doing particularly well. here are a couple of the less obvious names i note near highs. tara data for storage, crown castle for wireless, accenture for consulting, need more of those services when you have cloud and mobile forcing companies to change the way they approach i.it.. north america and asia are the two big growth areas for accenture. what happens ne
CNBC
Oct 2, 2012 1:00pm EDT
, government decides, you know, the future is green energy and throw a lot of money at any small company that gets in the green energy field that creates a lot of problems. load up on debt. they don't -- they lack market discipline. they expand capacity beyond demand and what you end up with is sol lynn draft. >> so, what could government do effectively to help not the small young companies, necessarily but the smaller, fast-growing companies? what in your article you call the gazelles? >> the gazelles. one thing could you do is think about what growth companies do, they are always expanding, outgrow their office, their factory, what happens when they do that they run into a lot of luke roarcracy, building permits, environmental impact statements. what government can do is clear out the bureaucracy, take a concierge approach. >> let us help you that helps you be local then rather than state or federal right? >> that's right. most of the on obstacles are local. >> feed the gazelles but not with cheap capital government subsidies that causes those growth companies to take their eye off the
CNBC
Oct 3, 2012 6:00am EDT
which direction to take the nation. "squawk" will be right back. one is for a clean, wedomestic energy future that puts us in control. our abundant natural gas is already saving us money, producing cleaner electricity, putting us to work here in america and supporting wind and solar. though all energy development comes with some risk, we're committed to safely and responsibly producing natural gas. it's not a dream. america's natural gas... putting us in control of our energy future, now. >>> welcome back, everybody. the economy obviously front and center this week with the jobs report coming out on friday. our guest host this morning runs a company that has several economic indicators all rolled into one. joining us for the remainder of the show with his take on the markets and what's happening in corporate america is jim tisch, and jim, it's great to have you here onset. we were just talking about how you have a lot of different things that really give you a good idea of what's happening in the economy. diamond offshore, what's happening from an energy perspective, you have the luxur
CNBC
Oct 4, 2012 7:00pm EDT
plan, tax plan, corporate tax plan, energy plan, trade plan. the president doesn't. and i think it really showed. he imagined he was going to get through this race simply by disqualifying romney. they almost did it during the summer. they came this close. >> hold on a second. >> i want to ask you something. the whole debate last night was obama saying no to romney's agenda. we all learned romney's agenda. nobody learned obama's agenda. now he's going back to negativism. this is a huge mistake. let me tell you something else romney did to get reaction. your man obama is going to have so much trouble. romney said to 68 million viewers, i can make a deal. i can go across the aisle like i did in massachusetts. in fact he even said about his tax reform plan, if you don't like the specific version let's talk about some other options. but you, mr. president, you couldn't make a deal. you had a deal, you broke the deal with john boehner. that's what the woodward book is all about. in other words, this is something independents love. i say clinton democrats are going to go for romney bec
CNBC
Oct 1, 2012 4:00am EDT
in energy, food. >> absolutely right. and what's critical is that everybody now believes there will be some extra inflationary pressure in the system and that's extremely good news. luckily i think the risks are off the table and one can be supportive of equities in terms of higher valuations until inflation gets in excess of 4 percentage points, at which point people begin to worry about what will happen to the quality of earnings. >> the key thing here is the corporate take of gdp has never been at such a high level versus -- and wage earners take gdp as a pretty low level on a historical basis. i suppose the question is that going to remain or is there anything that will tip the employee share back? at which point things will change. >> you're right, it's pivotal to the levels and whether they can be maintained. there are two factors that allow me to feel more confident. first is the government policies are pro recovery coming from corporate as opposed to try and get workers to have higher incomes workers themselves don't have price impact power in the marketplace. global trend is still
CNBC
Oct 8, 2012 4:00am EDT
energy sector to hold 24 hour strike in the energy sector from 19:00. 21:00 cet. >>> coming up next, bae major shareholder throws something in the works. we'll have the details. >>> world bank has slashed its growth outlook for china and developing asia. the british chancellor has told cnbc the uk is getting it it right when it comes to tackling debt and will announce more spending cuts within the hour. plus the b chlt e aae and eads on on a knife edge. bigger shareholder opposes the deal. and we'll talk about that now. bae biggest shareholder invesco has said it has significant reservations about a tie up with the eads. it cited concerns the merger could backen bae's position in the united states. over the weekend, phillip hammond said it could veto any planned merger. hammond said the uk will block the deal if the french or german governments have too much of a controlling stake in the new firm. joining us for more is patricia in frankfurt. significant really, more likely to get done or more likely not? >> at the moment it seems that the stumbling blocks are more than we can do this at
CNBC
Oct 1, 2012 7:00pm EDT
. we've shared what we've learned with governments and across the industry so we can all produce energy more safely. i want you to know, there's another commitment bp takes just as seriously: our commitment to america. bp supports nearly two-hundred-fifty thousand jobs in communities across the country. we hired three thousand people just last year. bp invests more in america than in any other country. in fact, over the last five years, no other energy company has invested more in the us than bp. we're working to fuel america for generations to come. today, our commitment to the gulf, and to america, has never beenonger. [ male announcer ] the exceedingly nimble, ridiculously agile, tight turning, fun to drive 2013 smart. ♪ . >> three months after supreme court justice moved to the right and passed obama care. pete williams has some details. >> reporter: larry, this is shaping up to be a court term dominated by civil rights beginning with a case that will be argued next week on affirmative action, colleges nationwide use it believing that a more racially diverse campus provides a bett
CNBC
Oct 2, 2012 7:00pm EDT
? but proven technologies allow natural gas producers to supply affordable, cleaner energy, while protecting our environment. across america, these technologies protect air - by monitoring air quality and reducing emissions... ...protect water - through conservation and self-contained recycling systems... ... and protect land - by reducing our footprint and respecting wildlife. america's natural gas... domestic, abundant, clean energy to power our lives... that's smarter power today. boring. boring. [ jack ] after lauren broke up with me, i went to the citi private pass page and decided to be...not boring. that's how i met marilyn... giada... really good. yes! [ jack ] ...and alicia. ♪ this girl is on fire [ male announcer ] use any citi card to get the benefits of private pass. more concerts, more events, more experiences. [ jack ] hey, who's boring now? [ male announcer ] get more access with the citi card. [ crowd cheering, mouse clicks ] you.piano ]nnouncer ] get more access with the citi card. we know you. we know you're not always on top of it. and how could you be? that often you ju
CNBC
Oct 4, 2012 6:00am EDT
the deficit. >> there were also some notable exchanges about jobs, health care, energy industry subsidies and regulation, all of these things got deeper than some people had been expecting. we'll talk about those topics with john harwood. but if you were watching, as they headed in a 70% -- >> down from 80 the day before. >> right now it's down to about 66% in trade obviously suggesting romney got a big boost. >> mini flash crash. >> among our political guests this morning ready to talk about the road to election today, arianna huffington will be our guest host. huffington "post" obviously has a left bent, but it was declaring romney won the debate. ken duberstein will join us, as well. >> i was reading some of your tweets last night, john, and i liked your tweet. i tell you what i took away from the entire debate because i want to let you say it, but i saw what's possible in a life spent without any alcohol. i saw what i could have possibly been -- i saw how i could have possibly been able to talk if i had all the brain cells that i started with. and that was what i came away with. that
CNBC
Oct 1, 2012 11:00pm EDT
% for the year. i remain concerned that the energy drinks are going to be called into question by the health authority. share loss, difficult to reverse. so my dow jones player is well covered. my s&p receiver can't get any separation. what's left? at this point in my favorite thing to check down is to see what index or group is so far behind the market that there's something that could play catch-up. with the market as hot as this one and i know people don't think it's hot but it really is, what i like to do is find a real laggard. almost every group is up. almost every one. lo and behold, not only is there an index that isn't keeping pace, there's one that's actually down. that's the transports. they were off at one point very badly today. that's a terrific opportunity in and of itself. i know if there's nothing in the other indices, my intended receiver is going to be in the transport group. but which one? they're all down a lot. all looking terrible. i shouldn't say all. some aren't. first the airlines. i try to keep an open mind with this group. think of how terribly set-up the airlines
CNBC
Oct 5, 2012 11:00pm EDT
can all produce energy more safely. i want you to know, there's another commitment bp takes just as seriously: our commitment to america. bp supports nearly two-hundred-fifty thousand jobs in communities across the country. we hired three thousand people just last year. bp invests more in america than in any other country. in fact, over the last five years, no other energy company has invested more in the us than bp. we're working to fuel america for generations to come. today, our commitment to the gulf, and to america, has never been stronger. >>> it is time. it is time for the lightning round! we play until we hear this sound, and then the lightning round is over! are you ready, skedaddy? let's start with rob in new york. >> caller: how you doing, jim. my question about skechers? >> sell, sell, sell. it's sink'ing like a stone. i don't want skechers or deckers. >> ken in california, what's up? >> caller: thank you for your help and guidance. love your show. jim, abbott labs, is it overbought at this point? >> we were discussing this, i say you can't buy it here, steph. have to
CNBC
Oct 1, 2012 9:00am EDT
. >> thank you so much, rick. let's check out the latest moves in energy and metals. sharon at the nymex. >> the momentum here definitely in the metals market. i'm standing in the gold pit. gold prices went above $1,794 an ounce. a lot of investors may have looked at the s&p 500's returns, that's decent. but gold up over 10% in the last quarter. silver up over 25% in the last quarter. they want some more of that in the fourth quarter. and we're looking at that here in the metals market. also looking at momentum taking over, the weak sentimental data out of china in terms of the oil price. the oil prices here are a little bit of a bid for oil. the fact that they lowered a mix a little while ago before the open on the weak data out of china on their manufacturing numbers. in terms of the biggest mover here in the commodities space, definitely it is natural gas. natural gas at a ten-month high. natural gas here above 3.40. some are saying that $3 gas is sustainable here even if we don't see the same focus on coal to gas switching. still going to see higher natural gas prices. back to you. >
CNBC
Oct 5, 2012 9:00am EDT
governor romney talked about creating 4 million jobs by embracing an energy independence for north america. i have the ceo of the largest pipeline builder on my other show "mad money" last night. he said 4 million is reasonable, but the federal government is not being helpful. i know you favor all sort of energy, solar, fantastic. what do you say about the 4 million? >> actually, a say that we need to create more jobs across the board and particularly, highly skilled people to work in the refinery and production areas where we're finding more energy and we have to have a balance, so i'm totally for that. i encourage more a perennisship programs and training in that area. we have a high need for welders and people working in refineries and i'm all for paying for those jobs and looking at other alternative forms of energy and we have to have a balance of both. >> the unemployment rate falling below 8% for the first time since january 2009 and i'm sure the labor department was hearing about that this morning. at the same time, can you tell the american people that this 7.8 number marks the tu
CNBC
Oct 3, 2012 9:00am EDT
of texas in the energy business, that investors are very focused on, it's a three-member utility commission that is going to make that decision. they are appointed by the governor. big debate between the president and his republican challenger, mitt romney. it wasn't that long ago that rick perry was one of the challengers for the republican nomination for president. i asked him what he thinks romney is going to do tonight and how he is going to do in tonight's debate. >> this president has to defend the debt that's being created and i think governor romney's going to do a very good job of one of growth, of one of allowing the states to be more engaged in policies. >> reporter: so, of course, he thinks romney is going to do good tonight. is he partisan, no doubt about that. we'll see how it plays out. >> david, i understand that you're still going to talk to kyle bass in a few minutes. what is top of questions in your mind? >> kyle is a big macro thinker. he also runs a hedge fund that makes stock picks like everybody else. we're also going to talk about, first off, the growing debt world w
CNBC
Oct 2, 2012 4:00am EDT
be coming to the fore. . there's an underlying macro cramer, but a lot of changes going on. energies and energy efficiency. many aspects to it. >> other stories today, a bid to prevent another financial crisis, the review led by bank of fin len governor is expected to call for a separation of retail and investment operations. the report will also call for bonuses to be paid in debt. we'll hear from the central bank later today. meanwhile steve hester has called for banks to readjust back to a more customer focused approach. speaking at the london school of economic, he said lenders need to restore good customer service to regain trust of the public and rbs is the poster child for what went wrong in banking. and eric snyderman is suing jpmorgan. the suit partly the result of a federal mortgage task force formed in january. investors lost around $22 billion and more than 100 securities. jpmorgan says the suit involves actions taken at the behest of the u.s. government. jpmorgan stock closing up 1.2%. and "new york times" says u.s. senate will try to use the lame duck session to reach a
CNBC
Oct 3, 2012 4:00am EDT
of nuclear power. joining us now is scott parker, director of uk nuclear energy sector. this franco chinese con sorpgs, talking about buying the verizon nuclear venture. where do you think this leaves the transaction? >> there are only two nuclear vendors that are approved for use in the uk and that's westing house and ariva. obviously one of those is no longer available. >> they are trying to maximize the proceeds, but if you knock out one of the key buyers, is it fair to say we're not going to get the top dollar for this asset if it is eventually sold? >> i'm not sure that's true. there are two other companies that are interested. the disadvantage is they haven't got their reaction or the technologies approved, so if they do buy the nuclear company, there will be a delay of another two or three years before they could start construction on site. >> let's just delve into some of the regulatory hurdles because the chinese obviously have the cash to buy these types of assets. what hurdles do they face investing in the key strategic assets in the uk? >> if the westinghouse china state nuclear
CNBC
Oct 2, 2012 9:00am EDT
. the higher open across the board looks like much more "squawk on the street" straight ahead. all energy development comes with some risk, but proven technologies allow natural gas producers to supply affordable, cleaner energy, while protecting our environment. across america, these technologies protect air - by monitoring air quality and reducing emissions... ...protect water - through conservation and self-contained recycling systems... ... and protect land - by reducing our footprint and respecting wildlife. america's natural gas... domestic, abundant, clean energy to power our lives... that's smarter power today. i have a cold... i took dayquil, but i still have a runny nose. [ male announcer ] truth is, dayquil doesn't work on runny noses. what? [ male announcer ] it doesn't have an antihistamine. really? [ male announcer ] really. alka-seltzer plus cold and cough fights your worst cold symptoms, plus has a fast acting antihistamine to relieve your runny nose. [ sighs ] thank you! [ male announcer ] you're welcome. that's the cold truth! [ male announcer ] alka-seltzer plus. ♪ oh
CNBC
Oct 3, 2012 11:00pm EDT
've learned with governments and across the industry so we can all produce energy more safely. i want you to know, there's another commitment bp takes just as seriously: our commitment to america. bp supports nearly two-hundred-fifty thousand jobs in communities across the country. we hired three thousand people just last year. bp invests more in america than in any other country. in fact, over the last five years, no other energy company has invested more in the us than bp. we're working to fuel america for generations to come. today, our commitment to the gulf, and to america, has never been stronger. overmany discounts to thine customers! [old english accent] safe driver, multi-car, paid in full -- a most fulsome bounty indeed, lord jamie. thou cometh and we thy saveth! what are you doing? we doth offer so many discounts, we have some to spare. oh, you have any of those homeowners discounts? here we go. thank you. he took my shield, my lady. these are troubling times in the kingdom. more discounts than we knoweth what to do with. now that's progressive. >>> taking control of your finan
CNBC
Oct 1, 2012 6:00am EDT
so we can all produce energy more safely. i want you to know, there's another commitment bp takes just as seriously: our commitment to america. bp supports nearly two-hundred-fifty thousand jobs in communities across the country. we hired three thousand people just last year. bp invests more in america than in any other country. in fact, over the last five years, no other energy company has invested more in the us than bp. we're working to fuel america for generations to come. today, our commitment to the gulf, and to america, has never been stronger. >>> our guest host craig barrett, former chairman and ceo of intel. it's really good to have you. this is like twice in the last three weeks you've been on, isn't it? >> it's a pleasure to be with you guys. >> we'll talk tech, first of all, do you feel total, do you feel like a generation wire? are you totally insync with everything in technology now or do you harbor any resentment to all this new stuff, craig, having been at intel in the glory days? >> hey the beauty of tech is everything changes every year or every six months and t
CNBC
Oct 3, 2012 5:00pm EDT
is not putting out his case. >> i disagree with that. there is a lot of specificity on proposals on energy, the keystone pipeline issue and regulation and make sure we stop the huge growth of regulations and entitlements. he has been very specific. i think his tax program is pro growth. there is a lot of specificity and people look at it. it is the kind of thing the economy needs right now and that is what basic economics tells me. >> bernanke has sited your work as a big influence on current monetary policy yet mr. romney has said ben bernanke should be fired. are you advising that ben bernanke should get fired? >> i don't get into personnel issues. i would say on quoting different rules i think quantitative easing has not been helpful. i think we had good monetary policy in the '80s and '90s until recently. that is what we want to do. that is what the romney program is all about. >> john, i'm curious. there is a lot of talk about the evans rule and it is not quite the same as the taylor rule but it seems to go a way towards some of the things you have talked about in the past predominant
CNBC
Oct 1, 2012 12:00pm EDT
of 153.5 points and s&p up nicely as is nasdaq today as well. financials energy and industrials all leading the way. a good kick off to the fourth quarter. >> you have to like the way we're kicking off now. you look at the volatility index that remained under the 16 level and financials led right out of the gate, strong in the premarket and continue to be strong and you look at the industrial space and the pharmaceutical and overall it is a nice broad market rally as people are jumping into the fourth quarter. >> bank of america is up 3% or so today and certainly had great performance out of the dow industrial and give me a comment on the market right now. >> bank of america, i own it, i like it. i will have to use my wallet or a phone book because i am feeling really short they're. i think it trends higher. >> we have breaking news regarding the federal reserve steve liesman has the fed chairman to make comments today. >> the fed chairman is speaking to the economic club of indianapolis today and he really what he is doing is taking his case for the new qe to the public. thises som
CNBC
Oct 2, 2012 4:00pm EDT
into the electric network. they don't worry about whether it's generated by coal or solar or wind or how the energy is created. they ignore that. that's handled by the electric service provider. they don't have to make huge investments in creating more electricity. it's all done as a service. computing is now being offered for the first time, if you will, over the last few years as a service in the cloud. it means the consumers don't have to get bogged down with the complexity of computing. they don't have to make a huge capital investment. they just plug n run their applications. >> tell me about the world today. there's a concern that things are slowing, not just at oracle, but throughout business because of the global slowdown. that's what we saw in the latest earnings release that you reported. and there's a change in terms of data. data has changed. and you've got to keep up with this changing data coming from all sorts of mobile devices, et cete cetera. tell me about business right now around the world. what are you seeing? >> actually, our business is fairly good. i know in reported u.s. dol
CNBC
Oct 3, 2012 12:00pm EDT
fonts are lightening up on the energy exposure coming into this it first week of the month. whether or not that's the case, we sat down on the our trade desk this morning, we saw the market start breaking 90. gathered momentum and made a bee line for our first band of support around 89. we're not getting much of a bounce. you may want to cover those positions. the technicals, spr is way off the table. and it seems to be a little delevering. and i think that's what's pressing the market here. >> anthony, let's get your trade on this. >> i'm looking at we're still a very range bund market and even though the china data was soft, you have to look at stimulus from china coming out of the market. so unless we break out of this range, i'm still going to play the range. so i'm looking to get long. november crude oil around 88 of this. i want to put an $87 stop in because that would be below all my support levels. and at that point, we could move a lot lower to $80. but i don't think that's going to happen so i'll be long at 88 1/2 and looking to get out on the up side around 93 and i think
CNBC
Oct 5, 2012 3:00pm EDT
're going into earnings season. let's see how they come out. energy, materials, and financials are supposed to be down and the overall down 5%. >> goldman says this is primarily about the fiscal cliff. do you agree? >> i think it's going to be very heavily earnings driven where you get china and europe in the picture too. i think fiscal cliff is partial. it will be a partial cliff. it won't be a huge dropoff. it will be a partial dropoff, in our humble opinion. we think the consumer and the low interest rates and europe and china mean you're not going to have much earnings next year. that's really our big call. >> are you scared after what he said? >> no, not at all. >> do you agree, disagree? >> it doesn't really change our view on what we're doing. we're buying cheap assets, things like emerging market equities that's trading at 12 times earnings. >> but if he's right, all those assets can get a lot cheaper in the next three months. >> true, true. but what the fed is doing in terms of pumping ining liquidit the market. it's pretty supportive. >> why so pessimistic though? give us a partic
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